Kudlow: Tarp The TARP

[Terri]

By Lawrence Kudlow
November 20, 2008

Treasury Secretary Henry Paulson has called for a pause in the financing request for the Troubled Assets Relief Program (TARP), halting it at $350 billion. (The original request was for $700 billion.) I think that's an excellent idea. But in a recent hearing of Rep. Barney Frank's Financial Services Committee, Democrats went ballistic at the thought of no more TARP money. They want to keep spending. They want to throw money at GM, the other Detroit carmakers, plumbers, auto-parts suppliers, homeowners, mortgage problems and foreclosures. Candy stores all over America now want TARP money.

Meanwhile, Senior Obama advisors are talking about another $600 billion to pull us out of recession. Some reports even suggest the development of a new industrial policy for big-government interference in housing, banking, energy, autos and more.

More

[pattipace7]

How can people like Mr. Kudlow just suppose to sit and watch the destruction when there is a proven solution, and I thought the VA was frustrating? Did you see who is next to be bailed out: Remember it’s not just money that is sent electronically.

http://www.federaltimes.com /index.php?S=3821950



Even the construction worker’s union deducted dues from all employee’s to support the DNC. Employee’s of differing political views feared their job would be jeopardized if they objected. At $73 dollars an hour the auto workers union really helped in buying this election. The auto industry has political favors due, and they will be bailed out. All this ‘hype’ is just another tactic to steer the public from the truth.

[NewRepublicans]

I have a technical question someone may be able to answer.

If Paulson stops spending at $350B but Congress has already authorized $700-850B, then what happens to the money? Can the Obama administration continue to spend it as they wish? If so we are in BIG trouble. Can Paulson give it back so that a NEW authorization would be required??

[ACRScout]

Congress has run amok and flushed us down the toilet once again. Therefore I suggest we use the military. Put the treasury to work prining up $300,000,000,000,000 ,000,000.00, that should meet the needs of the public, in giving $1,000,000.00 to each person in the country. Then load the money into all of the Air Force C130's, C141's, and C5's, these planes could then fly over the country with their cargo rams down allowing the money to spill out the backs of the planes. This distribution method should not present much of a problem, since after the government gets done devaluing our currency, it will be worth the same amount as the paper it is printed on, but nothing more. Anyone here ready for $10,000.00 a loaf for bread?

[bcorp]

We people at the bottom of this supply chain, we small business owners, yep the ones that provide about 80% of the jobs, get nothing. In fact we do not have our hands out. We are rolling up our sleeves, working harder, and being more careful with our businesses. And yes, we did have to cut a few jobs, but for the most part we will tough it out, or if things get that bad, close our doors. What I would like everyone and the media to not forget is that it is people that make a country, not a government. People supporting each other builds an economy, not government. Unfortunately what our government has done these past few weeks has done great damage to this system. The message sent is a very poor example, you fail and government is there to rescue you. Hey why not keep failing if they will rescue me? No! We all have learned in life experiences that this is enabling and is destructive. Please do not enable big business any longer.

[thomas]

I really don't give a tinkers damn about Africa, the Middle East (except Israel), Europe and especially Mexico and Canada or the rest of the globe. How about seal the boarders and a little bit of good old fashion protectionism? P.S. don't bail out the auto manufacturers 'cause it's only money in UAW pockets.
The Old Chief

[rthom]

The Germans printed money to comply with the reparation demands placed on them following the First World War which gave a huge leg up for National Socialism. ACRScout's prediction of $10,000.00 for a loaf for bread is not idle hyperbole. The combination of printing money and removing arable land from food production for biofuel production will help us on our way to that.

----
"History is philosophy teaching by example." --Dionysius

[FlaJim]

The problem with these dim-witted market interventionists is that they see the economy as a static model. If they need more money, they'll simply raise taxes. Easy, right?

Wrong. Some people won't work as hard when they see a greater share of their earnings going to the government; others will simply hide it.

We're in for some hard times with this new administration coming in and it may even make the Great Depression look like happier times before we get rid of this band of predatory socialists.

[Daveironbea]

The Germans printed money to comply with the reparation demands placed on them following the First World War which gave a huge leg up for National Socialism. ACRScout's prediction of $10,000.00 for a loaf for bread is not idle hyperbole.

This is true, I have seen old pictures of Germans having to
have a wheelbarrow full of Marks to buy one loaf of bread. Thats OK the Austrian Messiah Hitler took care of them; he made the trains run on time and built the Autobahn. Now we have our Kenyan Messiah who is going to make it more better. Sieg Heil anyone?

[clovers]

I have been an admirer of Lawrence Kudlow for many years. He is clear-thinking and instructive. Keynesian economics is a failure!

There is no incentive to work when the nanny state provides for all - without any personal effort. Incentives in the form of tax cuts for individuals and small businesses are proven solutions. Give-aways only speed our descent into Socialism and inhibit initiative.

Now, consider the "economic advisers" whom Obama is consulting: Robert Rubin, Robert Reich, Jon Corzine, et al - everyone one of them is a Tax and Spend advocate, and most of them were Clintonians. Instead of change, Obama offers more of the "same old".

LT